Subject: File No. S7-08-09
From: David C Morse

February 20, 2010

Ms. Shapiro: Many commentators have made the case that greatly increased stock market volatility can be traced back to the Summer of 2007 when the uptick rule was eliminated. That volatility only served to enhance the profits of day traders and those businesses using programmed trading at the expense of investors.
To stabilize the markets, please reinstate the uptick rule. It has served investors well since the Great Depression. Many believe it's elimination helped create the Great Recession.

Thank you.